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China's graft buster recovers HK$64b in stolen funds

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Mainland police have urged the public to blow the whistle on graft, with offers of financial rewards for accurate tips. Photo: AFP
Toh Han Shih

Analysts expect mainland authorities will continue their crackdown on graft after the Ministry of Public Security announced it had recovered nearly 50 billion yuan (HK$64 billion) of stolen money last year.

The ministry said in a statement on its website Thursday that it had recovered 49.26 billion yuan after busting 149,800 cases of economic crime.

The ministry's announcement highlighted 10 major cases from last year, including British pharmaceuticals giant GlaxoSmithKline's (GSK) alleged bribing of mainland officials. Further investigations were being conducted on the GSK case, it said.

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"We successfully busted a slew of major cases including GSK's China subsidiary, which is suspected of serious economic crimes," the ministry said.

Mainland police have urged the public to blow the whistle on graft, with offers of financial rewards for accurate tips.

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Dane Chamorro, Southeast Asia managing director of Control Risks, a British risk consultancy, said the anti-corruption crackdown would expand into other sectors.

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